May 20 (Island) There has been a call for the appointment of a Parliamentary Select Committee to probe the alleged complicity of some defence and police bigwigs in goon attacks on a group of anti-govt protesters in Colombo on 09 May. This call should be heeded. SLPP goons who went on the rampage, and others who made use of the Galle Face attacks to set the country ablaze must be severely dealt with, according to the law. No one should be allowed to attack peaceful more..

May 20 (TM) The UK’s House of Lords held a debate on the status of Sri Lanka on 16 May, following a question raised by Lord Moylan about the country’s economic crisis. Diverse views were expressed by the Lords, but the general sentiment was that the UK should continue to support and even increase its support towards Sri Lanka’s economic sustenance and recovery. We reproduce the debate in full below: more..

May 20 (CI) By the end of the Chattogram Test where even three innings couldn't be completed, the once famished batters from both Bangladesh and SL were wearing a satisfied look. They had spent five days tucking into some much needed comfort food thanks to the Zahur Ahmed Chowdhury Stadium pitch. SL had a rough time in India in March, when they couldn't cross 208 in four innings. Bangladesh have been bowled out for less than 150 on four occasions in the last six months, more..

May 20 (Island) National record holder of the men’s 100 metres Yupun Abeykoon produced a superb sprint performance to commence his season proper at the World Athletics Continental Tour Challenger meeting at Savona’s Fontanassa Sports Centre on Wednesday. In a race where Marcell Jacobs also made his first 100m appearance since his Tokyo Olympic triumph, Abeykoon clocked 10.16 seconds to finish fourth. That was after the sprinter clocked a wind assisted 10.04 seconds in the heats. more..

May 20 (ANI) SL's High Commissioner to India Milinda Moragoda on Thursday met National Security Advisor Ajit Doval to discuss the present crisis in the island country and requested India's assistance in garnering int'l support for the economic recovery in SL. "The discussion particularly focused on the present economic crisis in SL, and High Commissioner thanked the National Security Advisor for the support that is extended by Govt of India to SL to manage the situation" more..

May 20 (Island) From the COVID-19 pandemic to its current economic turbulence, Sri Lanka has tackled many challenges thrown at them with resilience. Today however, Sri Lanka is under tremendous unrest and pressure and faces a challenging macroeconomic situation today. There are a bunch of contradicting factors that need to be mitigated – and this will require some difficult decisions. One of the things that can change the fortunes of Sri Lanka is foreign investments. more..

May 20 (FT) Central Bank Governor Dr. Nandalal Weerasinghe yesterday said immediate appointment of Finance Minister is critical to fast-track support program from the IMF and foreign debt restructuring exercise. “The discussion with the IMF is ongoing. We shared our policies and intentions on policy reforms that will be implemented in the next six to 12 months. IMF team will assess and the next step is to analyse the debt sustainability,” more..

May 20 (FT) SL tea exports in the first four months of this year have declined volume wise but gained in rupee earnings though in dollar terms the performance was lower. Asia Siyaka Commodities said cumulative tea exports quantity for the period Jan – Apr 2022 is at 81.9 million kg compared with 86.2 million kg the year before. The country earned Rs. 88.6 billion compared with Rs. 81.2 billion during the period January – April 2021. This converts to an approximate dollar value of $ 367 million more..

May 20 (DN) SL women’s cricket team led by Chamari Atapattu left yesterday to take part in the Pakistan cricket series which will commence from May 24. Tour consists of three T-20’s & 3 ODI’s while all matches will be played in Karachchi. Hashan Tillakaratne the head coach of the SL women’s cricket team said the Pakistan tour is a historical one at this hard time and this is going to be a good battle between the two teams. SL women’s cricket team made good preparation for this tour. more..

May 20 (DM) Sri Lankans, whose real incomes are getting hammered on a daily basis from soaring inflation, have turned to their credit cards, as there was a significant jump in the outstanding balance of credit cards in March from a month ago, when the financial and economic misery became more pronounced. The outstanding credit card balance has increased by Rs.3.9 billion to Rs.138.8 billion as of March-end, more..

May 20 (DM) The Power and Energy Ministry will introduce a platform to share information on the availability of fuel at filling stations island wide. Minister Kanchana Wijesekera yesterday said the above platform would be available for registered customers in ten days' time. "The new system will alert the registered customers and share information such as the availability of fuel, stocks in hand at filling stations, fuel distribution schedules etc," he said. Upon the information on new platform, more..

May 20 (EN) Fitch Ratings said it has downgraded Sri Lanka to restricted default (RD) 30 days after the country missed a bond coupon payment following a suspension of debt repayment announced on April 12 while dollar bonds were dropped Default (D). After the April 12 announcement Fitch downgraded SL to ‘C’. The coupon of US$ 78 million related to two bonds, but cross-default clauses triggered a default rating on others as well. “We have downgraded SL’s foreign-currency more..

May 20 (MC) Reserve Bank of India (RBI) on May 19 said that govt of India-backed $1 billion term loan granted to SL through the State Bank of India (SBI) for financing purchase of essential goods can be settled in rupee terms, outside the purview of the Asian Clearing Union (ACU) arrangement. This is in view of “difficulties experienced by exporters in receipt of export proceeds from SL,” central bank said. In March, the govt had said that State Bank of India will provide $1 billion credit facility more..

May 20 (AD) Public Utilities Commission of SL (PUCSL) says power supply will not be interrupted after 6 p.m. from May 23 to June 01 in order to facilitate 517,496 candidates facing 2021 (2022) GCE O/L exam. Chairman of electricity sector regulator Janaka Ratnayake said the decision was taken at a meeting held with the officials of the CEB. Focus of the discussion fell on the measures that can be taken to reduce the duration of power interruptions to facilitate exam candidates. more..

May 20 (Island) Retired Maj. Gen. Chagie Gallage says controversial Canadian House of Commons declaration that Tamil genocide took place in Sri Lanka may influence many Western parliaments as well as the EU. The Gajaba Regiment war veteran said that the recognition of 18th May, the day Sri Lanka defeated terrorism as Tamil Genocide Remembrance Day was an affront to Sri Lanka. The ex-combat officer said that more..

May 20 (Island) The govt had settled all payments for ships carrying fuel, CB Governor Dr. Nandalal Weerasinghe said yesterday. The World Bank cash grant of USD 160 million had been utilised to clear diesel, petrol and gas shipments, Governor said. He assured that by next week problems related to gas, diesel and petrol would be resolved. Meanwhile, the officials of the Power and Energy Ministry yesterday said two ships carrying petrol were expected to commence unloading on Thursday night. more..

May 20 (TM) Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe, who last week warned that he would resign from his post if the political instability at the time continued, yesterday (19) expressed his intention to continue to hold onto the post. Dr. Weerasinghe stated that there has been a significant improvement compared to the social and political instability that reached its peak in the forms of social unrest and violence at the time he made his prior statement. more..

May 20 (Reuters) An IMF virtual mission to SL is expected to conclude technical talks on a potential IMF loan program to the crisis-wracked South Asian country on May 24, Fund spokesman Gerry Rice said on Thursday. Rice, speaking to a virtual IMF briefing, said IMF monitoring political and economic developments in SL very closely. The debt burdened island country is experiencing its worst economic crisis since it won independence in 1948 as shortages of essential goods have triggered more..

May 20 (TM) In a letter addressed to the IGP, the JVP inquired if the Police conducted an investigation with regard to the political affiliations of those that were arrested in relation to the 9 May violence that led him to claim that 150 persons of the 450 arrested were affiliated with the JVP, as claimed by SLPP MP Arundika Fernando, and urged him to divulge the political affiliations of all those who were arrested if such an investigation had indeed taken place. “MP Arundika Fernando stated that more..

May 20 (TM) Further delays, on multiple occasions, are likely in the distribution of liquefied petroleum gas (LPG) due to delays in unloading, despite Litro Gas Lanka Ltd. having paid for two shipments that are in Sri Lankan waters on Monday. Well-placed sources said that given good weather, ships are unloaded at sea itself, instead of docking in the harbour. “If we unload at sea itself, the process is faster. more..

May 20 (FT) Former PM Rajapaksa should have left politics at the end of his second term as Prez, his older brother MP Chamal Rajapaksa told Parliament. “I feel that, had the PM left after his second term as President, he would not be facing the hurt he is facing today. In politics we have to learn to let go. If we are greedy for such positions then we will face such predicaments,” Rajapaksa said. He said that for Buddhists in particular learning to let go is an important part of their religion. more..

May 20 (CT) With the rise in wheat flour prices, the price of a loaf of bread rose by Rs 30 and the price of bakery products rose by Rs 10 yesterday. AIBOA blamed the price increase on the Prima and Serendib companies’ decision to raise wheat flour prices by Rs 35-40 per kilogram. AIBOA said they would not raise the prices of any food items. The association’s chairman Asela Sampath claimed that raising food prices is pointless because businesses and number of customers have declined more..

May 20 (TM) SL Police fired tear gas and water cannons at the IUSF engaged in a protest march in Colombo yesterday, reiterating the demand for the resignation of Prez Rajapaksa, and seeking justice for the planned attacks that were carried out on peaceful protestors on 9 May at the MynaGoGama near Temple Trees and the GotaGoGama at Galle Face. The protest was reportedly met with a court order, more..

May20 (FT) By the 11th, the country was in a sorry state without a PM or a Cabinet and was on the verge of total anarchy. However, the appointment of a new PM on the 12th was a good omen that has brought new hopes in the face of uncertainty. Ranil Wickremesinghe is no stranger to the post of PM. He is an ace veteran. This is his sixth term in this office; perhaps it may be a new world record in the subject. Despite many criticisms levelled against him, he could be considered as the foremost more..

May20 (FT) The appointment of a national list MP as the prime minister by the sole survivor of a defenestrated clan that claimed a license to kill fellow Sri Lankans brings into stark focus the issue of the legitimate use and the flagrant abuse of the national list arrangement in the constitution. A 21st Amendment must rectify the glaring defects in the present system. That a person rejected by the electorate in a pocket borough of his party could only enter parliament as a national list more..

May 20 (AD) Committee on Public Finance, chaired by MP Anura Priyadarshana Yapa, Member yesterday, has decided to summon the Central Bank Governor, the Secretary to the Ministry of Finance and other officials before the committee next week to discuss the current economic crisis and the solutions. Further, the Import and Export Control Regulations No. 6 of 2022 mentioned in the Gazette Notification No. 2274/42 dated 09.04.2022 enacted under the Import and Export (Control) more..

May 20 (AD) The CID is currently recording a statement from MP Namal Rajapaksa with regard to the unrest that unfolded on the 9th of May. Statements were obtained from MP Pavithra Wanniarachchi, her husband Kanchana Jayaratne and MP Indika Anuruddha yesterday. CID had recorded statements from them for over 5 hours. Meanwhile, MPs Rohitha Abeygunawardena, C.B. Ratnayake and Sanjeewa Edirimanne as well as Senior DIG Deshabandu Tennakoon more..

May 20 (EN) SL dengue cases have more than doubled in the in the first 19 weeks of 2022 compared to the same period last year due to lack of pesticides and diesel to implement the prevention programs at ground levels. There has been a rapid increase in the number of young patients reported during the last 8 weeks and is currently active. The number of dengue cases have jumped to 19,908 by the end of the first 19 weeks of the year, more..

May 20 (EN) SL injected 60 billion rupees into the banking system for 40 days at 22.6% on May 19, below the three month Treasury bill yield, despite severe fuel and cooking gas shortages. On May 10, another 69.5 billion rupees was injected at 23.05% for 59 days in a term auction, below the 6-month Treasury bill yield. Since April 22 the central bank has injected 189.5 billion rupees into banks for periods ranging from 22 to 59 days. The liquidity injections are coming despite SL being in more..

May 20 (TM) A large humanitarian grant assistance consignment worth more than LKR 2 billion from the people of India is scheduled to reach Colombo on 22 May 2022. The consignment, which consists of 9,000 MT of rice, 50 MT of milk powder and more than 25 MT of drugs and other medical supplies, will be handed over by High Commissioner Gopal Baglay to the senior leadership of the Govt of SL. This was made known via a media release by the High Commission of India in Colombo. more..

May 20 (EN) SL’s state-run fuel retails CPC has suspended licenses of four filling stations for hoarding and selling fuel in cans and barrels, Minister Kanchana Wijesekara said on Friday (20). Facing an acute fuel shortage, thousands of Sri Lankan motorists are forced to stay in queues for fuel for days as the island nation is facing its worst-ever foreign exchange crisis amid debt and economic crisis. PM Ranil Wickremesinghe has said SL has less than US$ 1m of usable reserves. more..

May 20 (EN) SL’s commercial banks quoted the rupee at 364 against telegraphic transfers on Thursday (20) while the central bank set a daily guidance rate for interbank spot trade at 359.47 plus or minus 2.50. Commercial banks were quoting 354/364 for telegraphic transfer dollars on Friday, remaining unchanged from Wednesday. On Thursday, the spot was quoted at 359.55. Banks could quote 2.50 rupees plus or minus under the new direction and the rate is set below more..

May 20 (AD) Nine more MPs were sworn in as Cabinet Ministers this morning. They took oaths before Prez Gotabaya Rajapaksa at the President’s House in Colombo this morning. The newly-appointed ministers are as follows: 1. Nimal Siripala de Silva – Minister of Ports, Shipping and Aviation; 2. Susil Premajayanth – Minister of Education; 3. Keheliya Rambukwella – Minister of Health; 4. Wijeyadasa Rajapakshe – more..

May 20 (EN) SL may face higher food prices and shortfalls of foods after authorities banned open account and DA/DP trade, importers warned as the country tried to get out of a currency crisis by raising rates and killing private credit. Though there were severe forex shortages the country did not face food shortages up to May 2022, due to food importers in the main wholesale market in Colombo somehow kept the nation fed. Out of about US$ 1.7-1.9 billion earned every month by country’s exporters more..

May 20 (AD) SJB has suspended the party membership of its lawmakers Harin Fernando and Manusha Nanayakkara who accepted ministerial portfolios in the govt. The general secretary of SJB, Ranjith Madduma Bandara said disciplinary action will be taken against two MPs. MPs Harin Fernando and Manusha Nanayakkara were sworn in as the Minister of Tourism & Lands and Minister of Labour & Foreign Employment, respectively. However, photographs of Ministers Fernando more..